diaDexus (DDXS.OB) is a medical diagnostics company, located in South San Francisco, California, focused on the development and commercialization of patent-protected in vitro diagnostic products addressing significant unmet needs in cardiovascular disease.
diaDexus’ first product, the PLAC® Test helps identify individuals at increased risk of suffering a heart attack or stroke, the #1 and #3 causes of death respectively in the U.S. These events can be prevented through early detection and more aggressive risk-reducing strategies.
The PLAC Test measures Lp-PLA2, a vascular-specific inflammatory marker implicated in the formation of rupture-prone plaque, and is the only blood test cleared by the FDA to assess risk for coronary heart disease and ischemic stroke associated with atherosclerosis. There are more than 30 published prospective studies validating Lp-PLA2 as a novel and valuable cardiovascular risk marker that can help improve early risk assessment.
GlaxoSmithKline (GSK) has developed an Lp-PLA2 inhibitor (darapladib) and is currently testing the drug in two large, global, Phase III clinical trials involving over 27,000 patients to determine if inhibition of the enzyme reduces cardiovascular events.
SOUTH SAN FRANCISCO, Calif., Jan. 10, 2011 /PRNewswire/ -- diaDexus, Inc. (OTC Bulletin Board: DDXS), a diagnostics company focused on the development and commercialization of patent-protected in vitro diagnostic products addressing unmet needs in cardiovascular disease, today announced preliminary Q4 2010 revenues of approximately $3.3 million, higher than its prior forecast of $2.8-3.0 million. These preliminary results are unaudited and subject to adjustment prior to the Company filing its Form 10-K on or before March 31, 2011.
The Company also announced a preliminary cash and cash equivalents balance of approximately $20.4 million as of December 31, 2010. This preliminary balance was also higher than the prior Company forecast of $19.7-20.2 million, is unaudited and subject to adjustment prior to the Company filing its Form 10-K on or before March 31, 2011.